SolarEdge Technologies, Inc. (NASDAQ:SEDG) VP Yoav Galin Sells 10,000 Shares
SolarEdge Technologies, Inc. (NASDAQ:SEDG) VP Yoav Galin sold 10,000 shares of SolarEdge Technologies stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $27.34, for a total transaction of $273,400.00. Following the sale, the vice president now owns 75,000 shares of the company’s stock, valued at approximately $2,050,500. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG) traded down 0.18% on Monday, hitting $28.30. 1,513,647 shares of the stock were exchanged. SolarEdge Technologies, Inc. has a 52-week low of $11.35 and a 52-week high of $28.65. The stock has a market cap of $1.18 billion, a PE ratio of 28.13 and a beta of 0.04. The company’s 50 day moving average is $21.12 and its 200-day moving average is $16.89.
SolarEdge Technologies (NASDAQ:SEDG) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.18. The business had revenue of $136.10 million for the quarter, compared to analysts’ expectations of $125.07 million. SolarEdge Technologies had a net margin of 12.64% and a return on equity of 21.01%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. Analysts predict that SolarEdge Technologies, Inc. will post $1.77 EPS for the current fiscal year.
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Several research firms have recently commented on SEDG. FBR & Co set a $18.00 price target on shares of SolarEdge Technologies and gave the company a “hold” rating in a report on Saturday, May 13th. JMP Securities restated an “outperform” rating on shares of SolarEdge Technologies in a report on Thursday. Roth Capital set a $16.00 price target on shares of SolarEdge Technologies and gave the company a “hold” rating in a report on Wednesday, May 10th. CIBC upgraded shares of SolarEdge Technologies from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. boosted their price target on shares of SolarEdge Technologies from $25.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. SolarEdge Technologies has an average rating of “Buy” and a consensus price target of $23.11.
A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in shares of SolarEdge Technologies by 601.2% in the second quarter. Bank of New York Mellon Corp now owns 1,526,947 shares of the semiconductor company’s stock valued at $30,539,000 after buying an additional 1,309,184 shares during the period. Sylebra HK Co Ltd boosted its stake in shares of SolarEdge Technologies by 24.1% in the first quarter. Sylebra HK Co Ltd now owns 2,121,621 shares of the semiconductor company’s stock valued at $33,097,000 after buying an additional 412,073 shares during the period. NN Investment Partners Holdings N.V. boosted its stake in shares of SolarEdge Technologies by 21.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,736,541 shares of the semiconductor company’s stock valued at $34,731,000 after buying an additional 305,179 shares during the period. Menora Mivtachim Holdings LTD. boosted its stake in shares of SolarEdge Technologies by 26.2% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,444,013 shares of the semiconductor company’s stock valued at $28,880,000 after buying an additional 300,000 shares during the period. Finally, Robecosam AG boosted its stake in shares of SolarEdge Technologies by 169.2% in the first quarter. Robecosam AG now owns 350,000 shares of the semiconductor company’s stock valued at $5,425,000 after buying an additional 220,000 shares during the period. 57.28% of the stock is currently owned by hedge funds and other institutional investors.
About SolarEdge Technologies
SolarEdge Technologies, Inc offers an inverter solution for a solar photovoltaic (PV) system. The Company’s products include SolarEdge Power Optimizer, SolarEdge Inverter, StorEdge Solutions and SolarEdge Monitoring Software. Its product roadmap consists of categories, including power optimizers, inverters, monitoring services, energy storage and smart energy management.
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